Tech News, Magazine & Review WordPress Theme 2017
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro
No Result
View All Result
The Daily Hodl
No Result
View All Result

Economist Nouriel Roubini Says Bitcoin Not Secure or Decentralized – But It May Be Partial Store of Value

by Daily Hodl Staff
November 9, 2020
in Bitcoin
‏‏‎ ‏‏‎ ‏‏‎ ‏‏‎

Global economist Nouriel “Dr. Doom” Roubini questions Bitcoin’s (BTC) scalability and security but acknowledges that the cryptocurrency could be a store of value.

In an interview with Yahoo Finance correspondent Julia La Roche, the famed economist, who has called crypto the “mother or father of all scams and bubbles,” now says that Bitcoin could serve as a store of value after all.

ADVERTISEMENT

Unlike thousands of other cryptocurrencies, Roubini admits that Bitcoin at least has an algorithm that controls its supply and keeps it from decreasing in value.

“It’s maybe a partial store of value because unlike thousands of other [cryptocurrencies] that I call ‘shitcoins,’ it cannot be so easily debased because there is at least an algorithm that decides how much the supply of Bitcoin raises over time. Because for most of those other ones, literally, it is done ad hoc, and they’re being debased faster than what the Fed is doing.”

Despite his latest evaluation of the king coin, Roubini still will not label Bitcoin as a currency, pointing to its volatility and lack of security and scalability as deal-breakers barring its entry into the category.

“I have pointed out that cryptocurrency is a misnomer. Because for something to be a currency, you have to be a unit of account. Nothing is priced in Bitcoin or any other cryptocurrency. You have to be a single numerator and with so many tokens you don’t have a single numerator. You have to be a scalable means of payment, and with Bitcoin you can make only five transactions per second. With a Visa Network, you can make 25,000. And you have to be a stable store of value that is not very volatile.”

ADVERTISEMENT

Roubini says central bank digital currencies (CBDCs) are the future, not Bitcoin. He expects that CBDCs will soon crowd out digital payment systems and will make even bank accounts and cryptocurrencies like Bitcoin obsolete.

“And remember, many central banks, starting now with the Chinese one, the Swedish, [and] even the Eurozone are starting to think about creating a central bank digital currency. Once you have a central bank digital currency, every individual can use an account with the central bank to do payments.

So, not only you don’t need crypto, you don’t even need Venmo. You don’t even need a bank account. You don’t even need the check. And the big revolution we’re gonna see in the next three years is gonna be central bank digital currencies. They’re gonna be crowding out digital payment systems, or in [the] private sector, starting with cryptocurrencies that are not really currencies.”



Check Latest News Headlines


ADVERTISEMENT


Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Submit a Press Release

Crypto Livewire – Press Releases

  • eToro and DS TECHEETAH Change Face of Sponsorship With Unique Profit Only Deal
    March 3, 2021
  • Unifi Farms Beta Launches on Unifi Protocol to Pioneer No-Stake Farming
    February 26, 2021
  • Bang Bang: Critical Factors Fueling Rise of the Retail Investor
    February 25, 2021
  • How Traders Make Money in Both Bull and Bear Markets on BigoMex
    February 25, 2021
  • Student Coin Found New Ways to Use Crypto
    February 24, 2021
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$49,379.00
$49,379.00
4.34%
Ethereum
$1,563.84
$1,563.84
3%
Binance Coin
$242.34
$242.34
4.81%
Polkadot
$36.45
$36.45
4.99%
Cardano
$1.20
$1.20
4.59%
XRP
$0.453588
$0.453588
0.71%
ADVERTISEMENT

Spotlight

  • Confusion Over Billion-Dollar Whale Transfer May Have Triggered Crypto Crash, According to On-Chain Analyst Willy Woo
    February 25, 2021
  • This Highly Misunderstood Altcoin Is Set To Explode, Says Crypto Trader Tyler Swope
    March 1, 2021
  • $630,000,000 in Bitcoin Just Left Coinbase, According to CryptoQuant
    February 26, 2021
  • Google Spotlights Bitcoin, Ethereum and Litecoin in New Finance Crypto Section
    March 2, 2021

DON’T MISS A BEAT

Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options

By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.

Check your inbox for confirmation email.

Cryptocurrency news and analysis, covering Bitcoin, Ethereum, Ripple, XRP, altcoins and blockchain technology

Categories

Bitcoin • Ethereum • Trading •
Ripple and XRP • Altcoins •
Blockchain • Regulators •
Scams • Crypto101 • HodlX • Explore • Futuremash •
Crypto Livewire

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT

JOIN US ON TELEGRAM

JOIN US ON TWITTER

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2021 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Ripple and XRP
    • Altcoins
    • Trading
    • Blockchain
    • Futuremash
    • Regulators
    • Scams
    • Crypto 101
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Your Guest Blog
  • CRYPTO LIVEWIRE
    • Latest
    • Press Releases
    • Sponsored Posts
    • Submit Your Content
  • BEGINNERS
    • What Is Bitcoin?
    • What Is Blockchain?
    • What Does Hodl Mean?
    • How to Pay Your Bills with Bitcoin
    • Best Bitcoin FAQs
    • Example of Bitcoin’s Purpose
    • Cryptocurrency Has Multiple Meanings
    • Authenticator Alert – Securing Your Crypto
  • SUBMIT
    • Guest Blog
    • Press release
    • Sponsored post
  • EXPLORE
    • eToro

© 2020 The Daily Hodl

×
We use cookies to give you the best online experience possible. Continue browsing if you are happy with that, or see how to manage cookies.